Estates

That depends on the validity of the trust, the terms of the trust and the source of the property that was transferred to the trust.

If you transferred property to the trust and the trust isn't valid then that property remains in the your estate. If the trust property is to be transferred to you upon her death then the property will become part of your estate. If the trust is not properly drafted the property will also be exposed to creditors. An improperly drafted trust can cause very costly legal problems when, for example, the trustor dies.

Trust law is extremely complex and varies from state to state. A trust must meet the requirements of the federal tax code. You should have your trust reviewed by an attorney who is an expert in trust law and estate planning.

No. A trustee is only liable in her capacity as a trustee and only the trust assets are exposed to its debts. Of course, that protection exists providing the trust is valid. If someone sets up a trust in order to incur debts they will not be personally responsible for paying, a creditor may be able to recover by a court action. Also, a trustee is personally liable for any mishandling of the funds of the trust.

All the time, and rightly so. It is the duty of an executor to "discharge all just debts."

Internal Revenue Service

Well...payable after death. Your estate will resolve your business affairs (whatever they be) after your death, so debts and taxes (for the part of the year you were alive), etc are paid, before any heir can get anything. Then the estate ends...and your business obligations can rest in peace.

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If there is no will, the widow is going to be entitled to at least 50% of the estate. If the husband had no children, she is probably entitled to everything. Consult a probate attorney in your community, the initial consultation should not cost anything.

Proceeds are the payments of the benefit. So in other words with Life Insurance it is the death claim amount paid out.

http://en.allexperts.com/q/Real-Estate-Home-1842/Refinancing-Trust.htm

I will assume that you conveyed your real property to your daughter and reserved a life estate in that property. In that case, your daughter is the owner of the property. She can leave it to someone in her will or it will pass to her heirs-at-law under the laws of intestacy in your state. Generally, if she is married with children, her husband and children will inherit the property if she has no will. You can check your state laws of intestacy at the related question link provided below. Your daughter's death will not affect your life estate. Whoever would inherit her property upon her death either by will or by intestacy would inherit it subject to your life estate.

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what happens to paided off car if spouse dies

The beneficiary is the person who receives the proceeds from a life insurance policy upon the death of the insured person.

In law, a beneficiary is one who is designated to receive something as a result of a legal arrangement or instrument. For example, a person may be the beneficiary of a will, trust, bank account, investment account or life insurance policy. On the other hand, a church, charitable organization, school, college, cemetery association, public television, hospital, museum, etc., could also be a beneficiary of a will, trust, account or insurance policy.

If no one is named as beneficiary on a policy than the death proceeds would go to the insureds estate and would be subject to taxation and probate. A very costly mistake!

If the insurance is made payable to the estate then the debts of the decedent must be paid before any distribution to heirs is made.

The executor of the estate is responsible. They are required to file a tax return for the deceased. It may be a good idea to consult a tax attorney before doing this.

Generally, an executor may appoint an agent. However, the agent is usually the attorney who is handling the estate. You should check with that attorney to determine if you could appoint your trusted friend to act for you in that capacity. The appointment would need to be expressed in writing and filed with the court.

You can check the laws of your state at the link in the related question below.

Life Insurance provides many benefits including a lump some of money to your beneficiaries free from federal income tax which they can use for any reason, including paying off the mortgage, college tuition, retirement, living expenses, final expenses for you, among many others.

Life insurance provides financial security for your family, and funds which may replace your income, allowing your family to maintain their style of living.

Life insurance has its advantages for both families and individuals alike. Once believed to be only meant for those with families, the benefits of insurance protect everyone from the uncertainties in life. An insurance policy will create an instant savings for the policy holders' dependents. Death benefits from life insurance can be used to offset children's educational expenses, clear off any pending debts, compensate for the missing income to the family, and pay for one's funeral expenses. A lot of insurance policies provide good returns, which could be a beneficial way for saving necessary funds for retirement years. Life insurance can also be used to pay estate taxes. In the case of a cash value policy, you do not pay taxes on the cash value accumulation until you withdraw funds from the policy.

No, burghers were the town people, who were mostly free laborers and middle class.

ryes, if you are working on crossword puzzle.

pumpernickel is a German bread with dark wheat ingredient.

The fact that it is in Florida doesn't change the answer. The assumption is that the wife inherits at least half, if not all, of the husband's assets. But the estate has to liquidate all assets before they can transfer them to the spouse. One way or another, the spouse ends up paying the debt. The spouse has some right in all real property owned by the husband. If the assets are not enough to cover the debt, the real property may have a lien placed against it to cover those debts.

The answer depends on many factors. It depends on whether you live in a community property state and when your spouse acquired the property. It depends on whether your spouse left a will and if the property was devised in the will. It depends on whether there is a provision in your state law whereby a disinherited spouse can claim a share of the estate by "election" if the property was devised to another person. If there was no will then you can check the laws of intestacy in your state in the link at the related question below. You should contact an attorney in your area to determine if you have any interest in the property.

Every state provides creditors with a certain period during which to make a claim against the estate. If they don't file a claim on time they lose their rights. On the other hand, if they made a claim and the property was conveyed during the time period set aside for creditors, the conveyance will be challenged. It would be viewed as a violation of the executor's obligations under the law. Consider also that title to real estate does not pass legally until the estate is probated. Therefore, no one can sign a quitclaim deed unless the estate has been probated. The answer is no. A quitclaim deed would not automatically stop a creditor. You need legal advice from an attorney who knows all the details.